The main purpose of this project has been to determine the mechanism for the voltage-dependent conductance of excitable membranes. We have shown that voltage-dependent conductance is based on the opening and closing of individual ionic channels; that the opening and closing rates for the individual channels depend on voltage according to the Boltzmann factor; and that the individual channels are independent of each other. The goal of the project has been accomplished and a general review recently published. This project is herewith terminated.